We may have multiple banking accounts, but only one expense
We often forget besides cash and card, we also spend with other methods such as prepaid cards, pre-paid gift vouchers, mobile wallets and more. These expenses are mostly easily ignored and not properly recorded unlike your credit card expenses or any bank transfers.
SpendWise is an application proposed to consolidate all expenses for a single user to be stored in a single source of truth, in the users pocket.

“I want to know how much I spend up till date so that I could do an informed decision if I need to do an important purchase”
The application provide users with actual expensed amount by pulling information from their banking account ,prepaid cards and mobile wallet account after user sign up and allow the app to pull.

“I want to be notify when I over spend so that I can make informed decision on what and how much I should spend in the near future”
The application’s push notification will inform user their balance in their bank account and their designated spending budget they plan on the application while configuring a budget plan.

“I want to be able to key in my cash expenses manually so that I could keep a record on all my expenses on a single application”
User will be required to manually key in any cash transaction to get accurate expenses reports.

“When it’s pay day, I would like to know if my salary has been deposited into my bank account so that I could plan my next purchase”
Any bank application would give you this feature, display account activity. What SpendWise can do is to help you to consolidate all your balance in a single application so that you don’t need to open multiple application to check your total balance.
The idea of building an application to track spending is only the beginning. What we have in mind is an application that helps user to do informed decision on their next purchase and for users to work out a saving and investment strategy that doesn’t effect their lifestyle.
The common saving/long term investment strategy is to save/invest first before spend. But this strategy doesn’t really work for people whom just join the work force and think that they don’t earn enough to sustain their lifestyle. SpendWise works as a reality check to these group of people by itemising everyone of their expenses and provide them with a saving/investment plan which is suitable for them.
This is a open source project and if anyone wanted the design file (sketch), just drop me a note in comment section.
Next Step -
API Strategy
Revenue Strategy
Product / feature / MVP strategy and Roadmap
Comments are strongly welcome.
